Medical Devices Market Research Reports & Consulting

Medical technology breakthroughs have led to a radical transformation in patient care by enabling a greater focus on clinical outcomes. Minimally invasive or non-invasive medical technologies, for instance, not only shorten recovery time but also lower medical costs. The growth of the markets for telemedicine and drug eluting stents also demonstrate the growing trend in medicine of using cutting-edge technology to enhance clinical outcomes. MarketsandMarkets tracks vital medical devices markets such as orthopedic devices, cardiovascular devices, surgical devices, therapeutic devices, mobility assist devices, self diagnostic devices, and neurostimulators. see less

Medical technology breakthroughs have led to a radical transformation in patient care by enabling a greater focus on clinical outcomes. Minimally invasive or non-invasive medical technologies, for instance, not only shorten recovery time but also lower medical costs. The growth of the markets for te
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The Autotransfusion Systems Market is expected to grow from USD 395 million in 2019 to USD 505 million by 2024, at a CAGR of 5.0% during the forecast period. Becton, Dickinson and Company (US), Zimmer Biomet Holdings, Inc. (US), Teleflex Incorporated (US), and Haemonetics Corporation (US) are some of the major players operating in the North American market.

The Temperature Management Market is expected to grow from USD 2.6 billion in 2029 to USD 3.0 billion by 2024, at a CAGR of 3.2% during the forecast period. The major companies in the global temperature management market include 3M Company (US), Medtronic (Ireland), Smiths Medical (US), Stryker (US), and ZOLL Medical (Subsidiary of Asahi Kasei) (Japan).

The Nurse Call Systems Market is expected to grow from USD 1.6 billion in 2019 to USD 2.5 billion by 2024, at a CAGR of 9.2% during the forecast period. The major players operating in this market are Rauland-Borg Corporation (A division of AMETEK.Inc.) (US), Hill-Rom Holdings, Inc. (US), Ascom Holding AG (Switzerland), Ackermann by Honeywell (Germany), and Jeron Electronic Systems Inc. (US) among others.

The Surface Disinfectant Market is expected to grow from USD 837 million in 2019 to USD 1,252 million by 2024, at a CAGR of 8.4% during the forecast period. The major players operating in this market are 3M Company (US), Procter & Gamble (US), Reckitt Benckiser Group plc. (UK), Clorox Company (US), and Ecolab (US).

The Patient Lifting Equipment Market is expected to grow from USD 3.0 billion in 2019 to USD 5.4 billion by 2024 at a CAGR of 12.7% during the forecast period. Increasing global geriatric & bariatric populations, the high risk of injuries to caregivers during the manual handling of patients, and the implementation of regulations ensuring the safety of healthcare personnel during manual lifting are the key factors driving the market growth. The major companies in the global patient lifting equipment market include Arjo (Sweden), Hill-Rom (US), Invacare (US), Handicare (Sweden), and Guldmann (US).

The US depth of anesthesia monitoring market is projected to grow from USD 141 million in 2018 to USD 170 million by 2024, at a CAGR of 3.2% during the forecast period. The growth of this market is primarily driven by the growing patient pool in hospitals in the US and the increasing number of surgeries. However, the high installation and maintenance costs of depth of anesthesia monitoring devices are expected to restrain the growth of this market in the coming years. The prominent players operating in this market include Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), Medtronic Public Limited Company (Ireland), GE Healthcare (US), Mennen Medical Ltd. (Israel), Masimo Corporation (US), and Philips Healthcare (Netherlands).

The lancets market is projected to reach USD 1,442 million by 2024 from USD 804 million in 2019, at a CAGR of 12.4% between 2019 and 2024. Growth in the lancets market is mainly driven by the growing prevalence of diabetes and the high prevalence of infectious diseases across the globe. Prominent players in the lancets market are Becton, Dickinson and Company (US), Roche Diagnostics (Switzerland), Ypsomed (Switzerland), B. Braun Melsungen (Germany), Terumo Corporation (Japan), Own Mumford (UK), HTL-STREFA S.A (Poland), ARKRAY (Japan), Sarstedt (Germany), and SteriLance Medical (Suzhou) (China).

The market for bed monitoring system & baby monitoring system is expected to grow from USD 1.3 billion in 2019 to USD 1.9 billion by 2024, at a CAGR of 7.9% during the forecast period. The report covered sensor pads or smart mattresses embedded with the sensors for bedsore monitoring, baby monitoring, elderly monitoring, and sleep monitoring. The growth of this market is driven primarily by factors such as growing investments in healthcare infrastructural development, increasing elderly population, rising adoption of unobtrusive monitoring solutions, increasing focus on reducing the treatment cost of pressure ulcer & fall injuries and increasing online availability & purchase of products. However, lack of awareness and acceptance of the products in developing countries is expected to restrain the growth of this market during the forecast period. The prominent players in this market include Early Sense (US), EMFIT (Finland), Eight Sleep (US), Smart Caregiver Corporation (US), Wellsense (US), Tekscan (US), Lenovo Group (Hong Kong) and Sleep Number Corporation (US).

The medical device contract manufacturing market is projected to reach USD 91.3 billion by 2024 from USD 55.0 billion in 2019, at a CAGR of 10.6%. The key factors driving the growth of the medical device contract manufacturing market include the overall growth of the medical devices market as a whole (mainly due to rising disease prevalence, life expectancy, and the geriatric population), increasing technological adoption in the medical devices industry leading to electronically integrated devices, and low returns on investment due to the rising cost of in-house manufacturing. Technological advancements have prompted end users to overhaul or update their manufacturing systems. As this is a costly process, they look forward to contract manufacturing. However, market growth is impeded by the growing consolidation in the medical devices market. The key players in the global medical device contract manufacturing market are Flex Ltd. (Singapore), Jabil Inc. (US), TE Connectivity, Ltd. (Switzerland), Sanmina Corporation (US), Nipro Corporation (Japan), Celestica Inc. (Canada), Plexus Corporation (US), Benchmark Electronics, Inc. (US), Integer Holdings Corporation (US), and Gerresheimer Ag (Germany).

The global veterinary rapid tests market is projected to reach USD 854 million by 2024 from USD 573 million in 2019, at a CAGR of 8.3%. Factors contributing to the growth of this market include the increasing prevalence of zoonotic diseases among companion and livestock animals and the growing need for the rapid detection of these diseases. The prominent players in this market are Zoetis, Inc. (US), IDEXX Laboratories, Inc. (US), Heska Corporation (US), Biopanda Reagents Ltd. (UK), Fassisi GmbH (Germany), Virbac (France), BioNote, Inc. (South Korea), SWISSAVANS AG (Switzerland), MEGACOR Diagnostik GmbH (Austria), and Woodley Equipment Company (UK).

The market for breast lesion localization methods is expected to grow from USD 413 million in 2018 to USD 598 million by 2024, at a CAGR of 6.3% during the forecast period. The growth of this market is primarily driven by factors such as the rising incidence of breast cancer, an increasing number of breast cancer surgeries, rising awareness of early detection of breast cancer. However, uncertainty in regulatory approval procedures is expected to restrain the growth of this market during the forecast period to a certain extent.BD (US), Endomagnetics (UK), SOMATEX Medical Technologies (Germany), Cook Medical (US), Cianna Medical (US), and Leica Biosystems (US).

The physiotherapy equipment market is projected to reach USD 21.1 billion by 2024 from USD 15.1 billion in 2018, at a CAGR of 5.8%. The growth of this market is primarily driven by rapidly growing geriatric population and the subsequent increase in the global prevalence of chronic diseases, and growing incidence of sports injuries, degenerative joint disorders, and cerebrovascular disease. DJO Global (US), Performance Health (US), BTL Industries (US), and EMS Physio (UK).

The laboratory proficiency testing market is projected to reach USD 1,103 million by 2024 from USD 800 million in 2019, at a CAGR of 6.6% during the forecast period. PT forms an essential precondition for operational excellence and accreditation in several industries. This is one of the major factors driving the growth of the proficiency testing market, globally. Also, the stringent safety and quality regulations for food and pharmaceutical products and the increasing focus on water testing are the other major factors supporting market growth. However, the requirement of high capital investments for accurate and sensitive testing is expected to restrain the growth of this market during the forecast period. The prominent players operating in the global laboratory proficiency testing market are LGC Limited (UK), Bio-Rad Laboratories (US), Randox Laboratories (UK), Merck (Germany), College of American Pathologists (US), American Proficiency Institute (US), Waters Corporation (US), QACS (Greece), FAPAS (UK), AOAC (US), Phenova Inc. (US), Weqas (Cardiff), Advanced Analytical Solutions, LLC (UK), Bipea (France), Absolute Standards Inc. (US), and NSI Lab Solutions (US).

The cardiac resynchronization therapy market is projected to reach $5.1 billion by 2024 from $4.1 billion in 2019, at a CAGR of 4.4%. The growth of the Cardiac Resynchronization Therapy Market is majorly driven by the increasing incidence of target diseases (primarily due to the rising geriatric population). Rising investments and support, along with technological advancements, are also contributing to the growth of this market. Prominent players in the Cardiac Resynchronization Therapy Market are Medtronic (Ireland), Abbott (US), Boston Scientific Corporation (US), MicroPort Scientific Corporation (China), BIOTRONIK (Germany), and Medico S.p.A. (Italy).

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